AC Energy, Ayala’s energy arm, and Power Partners Ltd. Co. (PPLC) are set to commence the construction of GNPower Kauswagan (GNPK) in Lanao del Norte in the fourth quarter of 2014.
The 4x135MW coal-fired power plant located in Barangay Libertad and Tacub in the Municipality of Kauswagan is expected to be in full operation by 2017. This will help back Mindanao’s power requirement which is seen to increase from its current peak capacity of 1400MW to 2300MW in 2018 as projected by the Department of Energy (DOE).
In the project kick off held on August 29, Ayala chairman and CEO Jaime Augusto Zobel de Ayala said, “Mindanao has always been a great source of excitement for Ayala. We have looked at Mindanao with a fresh perspective — investing heavily in Cagayan de Oro, Davao, General Santos, and participated in the development of the Laguindingan airport. Nothing could be more exciting for Ayala than to start contributing significantly to the infrastructure needs of Mindanao. Our greatest pride in Ayala is being able to contribute in a very significant way to the national development agenda and marking territory in Mindanao is very exciting for us.”
Ayala has long been committed to the economic development of Mindanao. Its real estate subsidiary, Ayala Land, has started to look at developing properties in Laguindingan, established Abreeza and Centrio malls, and SEDA hotels in the cities of Davao and Cagayan de Oro.
Lanao del Norte Gov. Mohammad Khalid Dimaporo and Kauswagan Mayor Rommel Arnado expressed their full support to the project with the hope this would give a better image to the province and attract more investors. Said Gov. Dimaporo, “We keep moving forward. That’s what we want to show not only our investors but also the general public that the residents and the local officials of Lanao del Norte want and will support this project.”
Also present in the event were GN Power Chairman and CEO Dan Chalmers and Sergio Dagooc, General Manager of Surigao Electric Cooperative (SIARELCO) and concurrently President of Association of Mindanao Rural Electric Cooperatives (AMRECO).
GNPower Kauswagan Ltd. Co. is a joint venture company between AC Energy Holdings, Inc. and Power Partners Ltd. Co. In May of this year, GNPK has engaged Shanghai Electric Power Construction Co.(SEPCC), a subsidiary of Power Construction Corporation of China, for the engineering, procurement and construction (EPC) of the said US$1 billion-thermal facility.
photos and text from Jaime Augusto Zobel de Ayala Facebook page LINK